Sailpoint Technologies (NYSE:SAIL) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Friday, Zacks.com reports. The brokerage currently has a $29.00 price target on the stock. Zacks Investment Research‘s price objective would suggest a potential upside of 15.77% from the company’s previous close.

According to Zacks, “SailPoint Technologies Holdings, Inc. is a provider of enterprise identity governance solutions. The Company’s products and services include Open Identity Platform, Cloud-based Identity Governance, On-premises Identity Governance, Data Access Governance, Identity Analytics, Healthcare Identity Solutions and Federal Identity Solutions. SailPoint Technologies Holdings, Inc. is based in Austin, United States. “

A number of other equities research analysts also recently issued reports on SAIL. ValuEngine upgraded shares of Sailpoint Technologies from a “hold” rating to a “buy” rating in a report on Tuesday, December 3rd. Rosenblatt Securities reiterated a “hold” rating and set a $23.00 price objective on shares of Sailpoint Technologies in a research note on Thursday, November 7th. SunTrust Banks reiterated a “buy” rating and set a $32.00 price objective on shares of Sailpoint Technologies in a research note on Wednesday, November 27th. TheStreet upgraded shares of Sailpoint Technologies from a “d” rating to a “c-” rating in a research note on Monday, November 25th. Finally, Jefferies Financial Group boosted their price objective on shares of Sailpoint Technologies from $26.00 to $28.00 and gave the stock an “in-line” rating in a research note on Thursday, November 7th. Seven investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $26.86.

Sailpoint Technologies stock opened at $25.05 on Friday. Sailpoint Technologies has a 1 year low of $16.63 and a 1 year high of $31.94. The firm has a 50 day moving average price of $25.33 and a 200 day moving average price of $22.69. The company has a market cap of $2.28 billion, a price-to-earnings ratio of -250.50 and a beta of 2.07. The company has a debt-to-equity ratio of 0.72, a quick ratio of 4.25 and a current ratio of 4.25.

In other news, Director James Cameron Mcmartin sold 15,000 shares of the company’s stock in a transaction on Friday, February 7th. The shares were sold at an average price of $25.54, for a total value of $383,100.00. Following the completion of the transaction, the director now directly owns 198,577 shares in the company, valued at $5,071,656.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Mark D. Mcclain sold 20,000 shares of the company’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $23.62, for a total transaction of $472,400.00. Following the completion of the transaction, the chief executive officer now owns 1,393,739 shares of the company’s stock, valued at $32,920,115.18. The disclosure for this sale can be found here. Insiders sold 70,000 shares of company stock valued at $1,719,800 over the last 90 days. Insiders own 4.10% of the company’s stock.

Several hedge funds have recently made changes to their positions in the company. Manchester Financial Inc. acquired a new stake in Sailpoint Technologies in the fourth quarter valued at $32,000. Point72 Hong Kong Ltd acquired a new stake in Sailpoint Technologies in the fourth quarter valued at $35,000. Usca Ria LLC acquired a new stake in Sailpoint Technologies in the third quarter valued at $37,000. Tower Research Capital LLC TRC raised its holdings in Sailpoint Technologies by 210.3% in the fourth quarter. Tower Research Capital LLC TRC now owns 2,110 shares of the company’s stock valued at $50,000 after acquiring an additional 1,430 shares in the last quarter. Finally, Marshall Wace LLP acquired a new stake in Sailpoint Technologies in the fourth quarter valued at $75,000. Institutional investors and hedge funds own 92.06% of the company’s stock.

Sailpoint Technologies Company Profile

SailPoint Technologies Holdings, Inc designs, develops, and markets identity governance software solutions in North America, Europe, and the Asia Pacific. The company offers on-premises software and cloud-based solutions, which empower organizations to govern the digital identities of employees, contractors, business partners, and other users, as well as manage their constantly changing access rights to enterprise applications and data across hybrid IT environments.

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